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EOS Triples in 2 Days, Making Yunbi Top Tier Exchange With Over 230k BTC Volume

EOS has attracted public attention not only for its year-long ICO marathon but also the phenomenal trading volume as its price triples in 2 days on Yunbi, which handles around 80% of the token’s overall transaction. With the rise of EOS, Yunbi tops all global exchanges with over 230,000 BTC in 24 hours. According to Coinhills, Yunbi now ranks 1st on all global cryptocurrency exchanges with over 237k BTC and overtakes OKCoin(108k BTC) and Poloniex(90k BTC).

Top 3 Crypto exchanges of the day. Credit: Coinhills

EOS stands for Enterprise Operating System and is

“designed to enable vertical and horizontal scaling of decentralized applications (the “EOS.IO Software”). This is achieved through an operating system-like construct upon which applications can be built. The software provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across multiple CPU cores and/or clusters. ” – Eos.io

Unlike previous ICO, EOS has some interesting but controversial rules to distribute tokens. 200 million tokens were distributed in the first 5 days starting on 26 June. Next 700 million will be sold in 23 hours based 350 next cycles, or 341 days beginning on July 1, 2017. Finally 10% of total 1 billion tokens stays with block.one fund.
Some Chinese blame such method as a “black hole of capital” for the unusual extension of ICO period while the company’s justification is:

“The EOS Token distribution structure was created to provide a sufficient period of time for people to participate if they so choose, as well as give people the opportunity to see the development of the EOS.IO Software prior to making a decision to purchase EOS Tokens.”

It’s worth mentioning that such complicated distribution is auto-executed by the smart contract based on Ethereum, which is more efficient than the distribution of protoshares, a funding token for BitShares back in 2014. Thread on bitcointalk claims that EOS is a “rebranded Bitshares” as nathanhourt , a top contributor of EOS, replaced “Bitshares” with “EOS” in April on github.

EOS token was listed on Yunbi 1st July and became tradeable on 2nd July.

“YUNBI has helped the users to claim their tokens from the EOS smart contract. Based on the EOS official statistics, 1 ETH equals to 306.7944 EOS tokens in the first period of distribution.”

Based on the transaction history, the ICO cost of EOS token on the first stage is around 6.5 Yuan. The default page when clicking the “Trading” button on Yunbi has been directed to EOS/CNY trade pairs. Lowest quote of EOS was 5.87 CNY on 2 July and is around 30 CNY at press time.

The rise and rise of EOS also becomes the center of topic among the Chinese crypto community. Memes are created along the waves like the Jackie Chan one.

Learn cryptocurrency and digital assets since 2013 and co-founder of 8btc in 2014. Co-author of 2014-2015 Digital Currency Development Report(2015) and first author of Investment Guidelines To Blockchain Digital Currency (Published in June 2017 ISBN:9787300239286).

COMMENTS(20)

2 years agoPistacia

ok guys… so WTF! did you guys check the code on github? https://github.com/EOSIO/eosEOS is just a rebranded BitSharessame code, nothing new, just changed a few lines! all they want is to collect ETH to enrich their family!there is literally nothing newfinancial fraud, wtf is this wtf is going on!OH MY GOD!this is totally and utterly insane

1 year ICO ETH fund distribution scam for existing technologynot funnyLarimer want as much Ethereum as possible because Bitshares and Steem is going downEOS can’t compete with Ethereum just like Bitshares cant compete with its competitors

Why are you spreading FUD ?You dont include all the work being done after your fucking screenshot.It’s only the fork, then you could see the 10K commit from dev team to improve the code.You’re only trying to make people sell
Looks strange to see the dev can’t be started their code with their own code, but i think that makes the untrustful to the team, Looks the team try to prove with the upcoming commit. That makes the coin will be change to another good one. Remember a lot of coins started with forked the old code of bitcoin itself. i will not be surprised if there will be a next fork coin in the future.

Why are you spreading FUD ?You dont include all the work being done after your fucking screenshot.It’s only the fork, then you could see the 10K commit from dev team to improve the code.You’re only trying to make people sell

EOS has attracted public attention not only for its year-long ICO marathon but also the phenomenal trading volume as its price triples in 2 days on Yunbi, which handles around 80% of the tokens overall transaction. With the rise of EOS, Yunbi tops all global exchanges with over 230,000 BTC in 24 hours. According to Coinhills, Yunbi now ranks 1st on all global cryptocurrency exchanges with over 237k BTC and overtakes OKCoin(108k BTC) and Poloniex(90k BTC).http://news.8btc.com/eos-triples-in-2-days-making-yunbi-top-tier-exchange-with-over-230k-btc-volume

Quote from: Pistacia on June 30, 2017, 04:37:26 PM
ok guys… so WTF! did you guys check the code on github? https://github.com/EOSIO/eosEOS is just a rebranded BitSharessame code, nothing new, just changed a few lines! all they want is to collect ETH to enrich their family!there is literally nothing newfinancial fraud, wtf is this wtf is going on!OH MY GOD!this is totally and utterly insane

You’re so troll you do not even exist. Listening to trolls is like listening to imaginary people, you better go to the doctor and leave the trading if it is so.